Description
Part A: Financial Accounting-I
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Unit 1: Theoretical Framework (12 Marks):
- Introduction to Accounting: Concept, meaning, objectives, advantages, and limitations of accounting; types of accounting information; users of accounting information and their needs.
- Theory Base of Accounting: Fundamental accounting assumptions (GAAP), basic accounting concepts (Business Entity, Money Measurement, Going Concern, etc.), accounting standards, and GST.
- Accounting Process: Recording of Business Transactions.
- Introduction to Accounting: Concept, meaning, objectives, advantages, and limitations of accounting; types of accounting information; users of accounting information and their needs.
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Unit 2: Accounting Process (44 Marks):
- Recording of Business Transactions: Source documents, vouchers, accounting equation approach, rules of debit and credit, journal, special purpose books (cash book, purchase book, sales book, etc.), ledger, and posting from subsidiary books.
- Bank Reconciliation Statement: Need and preparation.
- Depreciation, Provisions, and Reserves: Meaning, need, causes, and methods of depreciation (Straight Line Method).
- Accounting for Bills of Exchange.
- Trial Balance and Rectification of Errors.
- Recording of Business Transactions: Source documents, vouchers, accounting equation approach, rules of debit and credit, journal, special purpose books (cash book, purchase book, sales book, etc.), ledger, and posting from subsidiary books.
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